The Dolphins have signed Mike Wallace to a 5 year deal worth $60 million that can escalate to as much as $65 million with incentives.

Wallace is one of the fastest players in the NFL, running a 4.33 40 yard dash at the Combine. His speed has translated to the field as he has a yards per catch average of over 17 yards for his career.

In 2012, Wallace had a down year due. The cause appears to be a change to an offensive system that required more quick passes to protect Ben Roethlisberger. He was ranked 91th for overall performance from the wide receiver position. This metric takes into account everything from pass catching to run blocking to penalties.

In 2011, Wallace was ranked 13th overall.

I've included a game by game performance of his previous season courtesy of PFF.

As you can see, his performance was down in 2012 overall compared to 2011.

If used correctly, Wallace is a dangerous deep threat that will force the secondary to back off and could open up the short and intermediate passing game as well as the running game.

the reason I posted his credentials so large is because I'm sick of people telling me he's not one of the best receivers in the game. I'm also hearing TV talking heads like Mike Greenburg say he's not even in the top 12 discussion. People get all caught up in these receivers that catch 100 balls. Alot of those guys contribute no big plays, just a stack of catches that move the chains. I'd rather have a guy that catches less passes but averages twice as much per catch as most everyone else. He also get to the end zone in a hurry.

It wouldn't be as beneficial for most teams to acquire him, but for the Dolphins it was essential. Mike Wallace is EXACTLY what the Dolphins desperately needed, and when that kind of opportunity comes along, to find the EXACT piece you need, it isn't overpaying, it's filling a huge gaping hole and building your team.

Is he Jerry Rice?

Of course not.

But he is EXACTLY what the Dolphins needed right now, and you have to pay for that, and he is worth it TO THE DOLPHINS.

"We did a lot of homework," Philbin said. "We charted every catch he’s made for the last couple of years, we charted every drop he’s made for the last couple of yeasr. We got it on a picture and we know where all the dots are: inside the numbers, outside the numbers, this deep, that deep.

"When you’re a receiver in the National Football League, you’re kind of charged with a couple of simple jobs. One is to get open and two to catch the ball and No. 3 to block if it’s a run. We expect him to get open, we expect him to catch the ball and hopefully make a couple of guys miss after."

Jennings, who signed a five-year, $45 milion deal with Minnesota, isn't nearly as fast as Wallace, but he is a superb route runner and works all areas of the field. Some have suggested that Wallace is a one-trick pony and all he can do is run go routes.

Philbin strongly disagreed with that assessment and said he had the facts to back it up.

"I’m not sure all those people studied the film and saw where all his catches were," Philbin said. "Some people might have wrote that down, but if you look at his catch chart, that might not be as accurate as you’d think."